Mobile phone-backed bonds hit UK shores
Liberty Global subsidiary Virgin Media Mobile has structured a £125m private securitization backed by mobile handset loans, the first deal of its kind to be closed in the European market.
View ArticleISDA replaces head of non-cleared margin effort
The International Swaps and Derivatives Association has replaced the head of its implementation effort for margin on non-cleared derivatives, just months before the industry faces a major regulatory...
View ArticleDubai draws ICBC to Chinese futures push
The Dubai Gold and Commodities Exchange has signed up the Industrial and Commercial Bank of China as a clearing and settlement bank, which it hopes will ease its introduction of Shanghai gold futures.
View ArticleBayer’s €4bn CB works but investors are not carefree yet
Bayer successfully pulled off what was arguably this year’s biggest European ECM deal on Tuesday night, with a €4bn mandatory convertible and €1.5bn delta equity placement. But although both were fully...
View ArticleGSE reform back on the table under Republican rule
The long-term future of government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, and the potential to finally recast their role in US housing finance, is back on the agenda under a newly...
View ArticleDutch government sells €1.4bn of ABN Amro as blocks proliferate
The ferocious onslaught of block issuance is continuing tonight, with four vendors out in the market, led by the Dutch government, which has begun the next phase of privatising ABN Amro by selling 60m...
View ArticleTrump turbulence ruptures volatility trading
A big rift in US volatility trading has opened in the week since Donald Trump’s shock presidential election win, with equity markets quickly calming after the result while the US Treasury yield curve...
View ArticleCNH liquidity key to IKEA’s China ambitions - report
The ability to tap into a liquid CNH swap market is one of most important considerations for international companies with operations in China such as IKEA, according to a joint report from the Hong...
View ArticleCovered issuers rush to market before funding window shuts
Covered bond supply surged to its highest levels in seven months this week, as issuers scrambled to raise funding before the end of the year and costs soar even further.
View ArticleCorporates prepare to down tools as rates vol punctures market
Market participants seemed sure of an early end to the corporate bond issuance calendar this week as they switched to a bearish outlook on conditions that are being knocked by rates volatility.
View ArticleStrong third quarter could mean reprieve for fixed income
The strong quarter for fixed income across the Street, as well as shakeout in bonds, could slow the restructuring of some investment banking businesses and give traders a reprieve from the misery of...
View ArticleTrump brings volatility to nervy fixed income market
Donald Trump maybe making the magic happen in equity markets, but for fixed income players the confusion over what direction his presidency will take is about as useful as a degree from Trump University.
View ArticlePharma deals drive dollar issuance in post-election rush
The corporate dollar market roared back to life this week following the US presidential elections, with pharmaceuticals companies leading the charge as the Treasury market sell-off worked to the...
View ArticleBanks extend post-Trump procession in dollars
Morgan Stanley led a trio of banks tapping the dollar market this week across the capital structure and exploiting the post-election spread tightening in the sector.
View ArticleBelize bondholders mobilise as government seeks talks
Creditors of Central American sovereign Belize are understood to have formed a committee to deal with a possible second restructuring of the government’s bonds in four years.
View ArticleCabei leaps through window to Aussie debut
Central American development bank Cabei added a 20th currency to its bond issuance portfolio on Thursday with a 10 year debut in Australian dollars as niche currencies dominated the post-US election...
View ArticleLat Am bankers fear drought, urge pragmatism
Senior Latin America DCM officials at some market-leading bookrunners said this week that they feared there would be no more dollar issuance from the region in 2016, although a couple of dissenting...
View ArticleBaby steps for SDR reform
The transition to a new IMF special drawing rights (SDR) basket, inclusive of the renminbi, is just the starting point for efforts by China and the IMF to see the basket take up a greater role as a...
View ArticleLGFV Changsha Pilot woos investors for debut
Changsha Pilot Investment Holdings Co is readying its international debut, having mandated two firms to arrange roadshows next week.
View ArticleRMB round-up: record CNH futures trading, Loonie-RMB direct trading, Silk...
In this round-up, the Hong Kong Stock Exchange saw surges in trading of offshore RMB (CNH) futures, BMO became the first Canadian bank to become market maker for CAD-RMB direct trading, and the country...
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